Thought Leadership |

How to Enhance the Small Business Banking Experience with Automation and Augmentation

key points
  • Small businesses are seeking personalized and emotionally connected banking relationships, as evident from low satisfaction rates with current financial institution offerings.

  • Financial institutions need to invest in technology and automation to enhance customer experiences and transition from transactional relationships to trusted advisory roles.

  • Automation and augmentation through tools like nCino's Small Business Banking Solution can provide fast, convenient experiences for small business customers while allowing bankers to focus on meaningful interactions and building trust.

Small businesses are often dissatisfied with the level of personalized banking services offered by financial institutions. To address this, institutions must invest in technology and automation to create seamless and tailored experiences that prioritize customer needs, ultimately transforming relationships from transactional to advisory.

Today’s small business (SMB) customers are rethinking their banking relationships and looking for a personalized and emotional connection. If you need proof, look no further than these compelling stats:

  • Only 18% of small businesses believe their financial institution (FI) meets their needs

  • 62% of small businesses don’t see their business account providing more benefit than a personal account

  • 90% wish their FI understood their banking needs better, as well as their business needs

As small business customers begin to rethink how and with whom they’re banking, FIs must also rethink their strategies. How can they provide greater value to their small business customers and take advantage of the $370B banking opportunity small businesses represent?

A $370B Dollar Question

This question was top of mind at American Banker’s Small Biz Banking conference, held early October in Nashville, TN. During the two-day event, small business banking leaders shared their thoughts, experiences and research on current state of small business banking in the US.

Irv Henderson, EVP and Chief Digital Officer of Small Business at US Bank, asked, “How can we use technology and integrated experiences to get small business owners home to their families earlier?”

Today’s customers, he explained, are looking for convenience, integrated experiences, and opportunities to simplify every aspect of their lives- including their financial lives. “Whatever we can do to make their lives easier will be key to our success,” Henderson added.

For many institutions, this will mean looking beyond transactional relationships and working toward a future where bankers can serve as trusted advisors. Amy Doll, Chief Lending Officer at PeoplesBank, said it best during a session with nCino. “When it comes to small business banking, financial institutions should make their clients feel like they’re big enough to help, but small enough to care.”

To bridge this gap and effectively serve the unique needs of small businesses no matter their size, FIs must invest in ways to augment and automate processes and experiences. Automation enables fast and seamless workflows and low-touch interactions, replacing time consuming, manual processes, and allowing bankers more time to better serve their customers.

Augmentation, which goes hand-in-hand with automation, provides FIs with true differentiation and value creation through enhanced, personalized interactions in an increasingly digital world. The result: bankers have access to the powerful tools and insights necessary to meet all their clients’ needs, while offering them an augmented and supercharged customer experience.

How SMB Customers Benefit


  • Bank from anywhere at anytime

  • Fast, easy, convenient and seamless customer experience

  • Spend more time focusing on their business not banking


  • More human-to-human interaction

  • Increased personalization and tailored advice

  • Focus on problems that matter, not paperwork or complicated workflows

  • Build more trust

While bankers will certainly benefit from these technologies, the real value comes from what the customer experiences. Amy Doll drove this point home during her session with nCino when she shared how automation and augmentation enabled by nCino’s Small Business Banking Solution gives her team more opportunities to focus on meaningful work and build positive, profitable relationships.

“Great Small Business Banking is about personalization and making it tangible to your clients that your organization is capable and cares,” she said.

When PeoplesBank chose nCino, one of their biggest digital transformation goals was to spend less time on transactions and more time on interactions. Prior to nCino, their employees had to rekey clients’ names 37 times during the underwriting process. Now, the employee only types it in once. Goal: achieved.

With the nCino Small Business Banking Solution, FIs have the flexibility and scalability to meet the unique needs of each small business. Key features that enable automation and augmentation include Onboarding with Know Your Business (KYB) and Know Your Customer (KYC), Loan Auto Decision, Automated Spreading, and Deposit Account Opening, giving both your bankers and customers the tools necessary to meet their needs and have an exceptional banking experience.

To learn more, download nCino’s “The Supercharged Small Business Banker” POV today.